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Japan Provides Loan of Almost $400 Million for Sihanoukville Port Development

  • Posted Aug 6, 2022 13:57 by Hun Sirivadh
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PHNOM PENH: The signing ceremony for the concessional loan provided by Japan to Cambodia of almost US $400 million for the development of the Sihanoukville Autonomous Port, took place on Saturday morning, 6 August, at the Peace Palace in Phnom Penh. 

The signing was conducted between Cambodian Foreign Minister, DPM Prak Sokhonn, and the Foreign Minister of Japan, Hayashi Yoshimasa, with Prime Minister Hun Sen also presiding over the ceremony.

Minister Hayashi Yoshimasa signed the exchange letter with DPM Prak Sokhonn on Saturday morning to provide a concessional loan of more than US $383.22 million for the development of the Sihanoukville Autonomous Port, Phase I. 

Prime Minister Hun Sen, in a meeting with the Japanese Foreign Minister prior to the signing ceremony, thanked Japan for providing the loan to Cambodia.

According to the Ministry of Foreign Affairs, this concessional loan will significantly contribute to the expansion and modernization of the Sihanoukville Autonomous Port, helping to turn it into a core deep-sea port for Cambodia and the region, in line with the commitments of both countries’ Prime Ministers.

The Sihanoukville Autonomous Port was first built in 1956, and resumed operations after 1979. To make the port more convenient and efficient by 2022, the Japan International Cooperation Agency (JICA) has helped design and build more container ports.

Currently, the Sihanoukville Autonomous Port plans to expand its area to be around 350 meters long and 14.5 meters deep, by the end of 2022. Once this is complete, ships with a holding capacity of up to 4,000 containers will be able to dock at this port.

During Japanese Prime Minister Kishida Fumio's visit to Cambodia in March, he reaffirmed the common goal Japan has with Cambodia of developing the Sihanoukville Autonomous Port into a major international port in the region.

Speaking at a joint press conference on the night of 20 March 2022, Prime Minister Hun Sen said that in the future, with the participation of Japan, the Sihanoukville Autonomous Port will become important not only for Cambodia, but also for the whole region.

PHOTO: KOK KY

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